How U.S. Student Loans Became A $1.6 Trillion Crisis
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- čas přidán 12. 06. 2020
- College is more expensive-and important-than ever before. Some 44 million Americans collectively hold nearly $1.6 trillion in student debt. And these numbers are growing. This decade alone, college costs increased by 25% and student debt increased by 107%. Today, college graduates earn 80% more than those with just a high school diploma. That dichotomy is putting students in a difficult situation: Do they risk going into crippling debt at the beginning of their adult lives in the hope the investment turns into a career financial stability that goes with it?
Some 44 million Americans collectively hold over $1.6 trillion in student debt. And these numbers are growing.
At the same time, advancements in technology, especially automation, are making it harder to earn a living wage without some type of advanced degree. Today, college graduates earn 80% more than those with just a high school diploma, on average.
College is more expensive - and important - than ever before. And that dichotomy puts students in a difficult situation: do they risk going into debt they can’t pay back or miss out on the benefits of a college degree?
Experts have long labeled this dynamic a “crisis.” But then, another kind of crisis hit: the coronavirus pandemic. And then, an economic crisis followed.
In February, the United States officially entered an economic recession and between mid-march and June, over 42.6 million Americans filed for unemployment.
During the 2008 recession, many opted to go back to school and gain new skills. However, since then, the cost of a four-year college degree increased by 25% and student debt increased by 107% and many are less sure if college will be the solution to riding out a recession this time around.
CNBC Make It spoke with students, borrowers, historians and experts to learn how student debt became a crisis, how the pandemic will impact borrowers and who is to blame for putting students in an impossible position.
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How U.S. Student Debt Became A $1.6 Trillion Crisis
College in the US has become a business, not a service.
Agreed
Fabio The Great But you should not go into debt before you know that gained “service “ has real future value.
Agreed. You can make it without college. YOU have to figure out how to sell yourself, not become a SLAVE.
The --customers-- i mean students are just blinded by the so called "college experience". They know nothing. If i had to do it all over again, I would go to lineman school and become a lineman. It pays more than most college degree holders. One's life doesn't derserve such debt. Terrible.
College isnt a service either it’s an educational institution. Don’t go in expecting a job being handed to you, and also don’t buy into the advertising of this either
I almost couldn’t go to school because I didn’t have a co-signer. I went to a state school I graduated with a bachelor's Degree in Psych and I make 50k but have to pay 850 a month for my student loan payments. I am 80k in debt and at this point I wish I didn’t go. Some days I go hungry because I’m living paycheck to paycheck
I’m on the tail end of my loans and owe $16k @ 7.76% paying $100/month in interest, which is manageable. I can’t imagine students graduating these days with a bachelors and $150k+ in debt. Even more so, doctors and attorneys graduating with $500k+ must CRINGE looking at those interest payments!!!
I've paid $60,000 for the $30,000 I borrowed in student loans. I still owe $8700 at 4.75% interest. Now I consolidated it to the direct loan program and put it on 0% interest Income Based Repayment. Hopefully the rest will be forgiven by 2026 since I've been paying since 2006 and they just changed the rules so you can get it forgiven after 20 years of payments.
I graduated in 2017 with a bachelor’s degree and $68,000 in student loans. I've never missed a payment because I made a smart decision to seek the guidance of a financial expert. With her help, I ventured into stocks and other Fiats. Despite having no prior experience, I managed to save up over $20k and entrusted my portfolio to be managed. I started allocating $5k monthly towards paying off my loan, sourced from 20% of the profits earned from my portfolio. Within 2 and a half months, I was able to fully repay the loan along with the accrued interest. The best advice I gave to myself was to seek professional guidance
you are right, seeking professional advice helps. A lot of Americans like us don't even have the time and space to think about this. How can I participate in this? I sincerely aspire to establish a secure financial freedom future and am eager to participate. Who is the driving force behind your success in clearing your student loan?.
Graciela Lynne Schriewer is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
By the time the message hits most students it’s too late. Lack of financial info from parents then the push from school to go ahead and start applying and taking classes early. The pressure is ridiculous
It is! My high school pushed so many of us to go to college! It was like only the smart and successful kids went to college and made something of themselves I’m about to be 20 and learned it’s actually the other way around People with loans are slowed down on their financial goals and jobs that I’ve never heard of in school r actually in demand and can make a lot more money than someone with a college degree does
Tracy Ragland it literally says in the video at 1:02 that college graduates make 80% more than those with just a high school diploma lol
@@tracy_ragland depends the career path. Most of those "you don't need a degree but makes a crap ton of money" come with huge sacrifices. Long hours, lots of work, and most of the time long traveling. Your 20 so it most likely not applies to you. But most people in my work get tired of it when they start getting older and having families.
Fr! I felt so pressured to go to school just to get a good job. But getting a good job isn’t even guaranteed.
Facts! my parents literally advised me to get as many student loans as possible.
Cost of tuition has increased so much in the last 20 years and salary levels have not kept pace with that.
Bens Steel drug dealer
Watch Peter Schiff, he explained
how government messed up tuition in universities and colleges.
Same with houses and rent. lol 😂
@@anarose623 the problem with housing is property taxes. Property taxes incentivize not building housing or repairing or expanding housing. We need to get rid of property taxes, and replace it with land value taxes. Tax the value of the land itself and not the buildings on top. This would cause more denser housing and more housing being built in general. We also need to change zoning laws. We need to allow and encourage tiny housing. You could live in a tiny house for as little as $30,000. The mortgage on a tiny house is 300 a month. Way less than a traditional house. It would allow more people to own a home and someone making minimum wage would be able to own one and pay a mortgage and build wealth. The only solution to decreasing the cost of housing is to increase the supply
We should ask that question to universities, not the federal government. It can't cost more than $10-15k/year to educate someone when you have tens of thousands enrolled and technology to help you do it.
Time to remove the stigma of trade schools and community college and transferring ,nothing wrong with them parents just want the elitism of university
Uneducated take. Kids want to go drink and party for four years. Being told by parents "it's the best time of your life." Nothing to do with elitism. Stop making yourself a victim and accept you made a stupid decision.
This. Kids can barely take care of themselves how do you expect them to handle loans? Just ludicrous. I advise people to go to trade school or a community college. Then agian, you reap what you sew.
This is really the right way of handling the debt crisis, kids just aren’t informed enough to take massive loans they have no idea how to pay back. They think University/College=Well paying job, when this absolutely isn’t the case
The people advocating for free college are suggesting the country pay for their education. Well the country needs electricians and plumbers, and it doesn’t need Gender Studies majors.
Free tuition for electricians? Sure. Free tuition for Gender Studies? No. Yeah this is unfair, but that’s why we can’t do free college
You want to study Gender Studies? That’s fine, but you’re paying for it and you should probably have a plan with it, you should be aiming for law school, social work, public policy, academia...etc etc. Ultimately you’re not going to get a job with just the Gender Studies major and there’s nothing that can change this fact
The Jukes exactly! I didn’t go to college and shouldn’t have to pay for others to study these stupid majors like gender studies as you said
You're right dude, that plumber or lineman can make more than many Stem graduates for the first few years when you take cost of living into account and in some cases, recessions affect them a lot less. Plus blue collar work is rewarding and people tell you what you did wrong to your face.
Kids take notes:
1. Take AP classes in high school to get college credit.
2. Pick an in state school and live at home if you can.
3. Go to community college if you really need to save money.
4. Apply for as many scholarships and grants as you can.
5. Work while you’re in school if you can.
Just go to a US accredited college in Europe get a degree for cheap and u get to learn a language too
Just move to europe, period point blank.
I did all of these things and had a full scholarship. Still have little debt but that was due to an accident.
Don’t spend money on APs! Take dual enrollment classes in high school if you can, and once you graduate take general education courses during the winter/summer through your local community college or a less expensive school that can transfer to your current one.
Even better, if your really thinking of transferring to a school incredibly expensive go to a local community college for 2 years and then transfer if you can maintain your grades into that college.
Let be honest, most student don’t event know what is a Interest rate
Until it too late
This is America
Well, the interest rate is an annoying feature. But when you look at the principal, it’s the same as a house. But I can’t get a house above a certain limit and the house is collateral. Student loans are unregulated. Lenders don’t even know how to quantify a loan. It’s not a business loan where you can declare bankruptcy. It’s like health care, where it is a need but you can’t really quantify the return on investment.
Community college is the way to go. Wish I spent an extra year or so there. Fasfa covered 90% of my costs
If I was better educated on the risks of loans I would not have applied for as much as I did. I was presented with loans from my college's financial aid office as a way to pay for my full tuition so I can attend classes. They didn't explain to me at 18 years old what the effect would be when I turn 25 and further. I knew nothing about sub vs unsub loans, I was just given a tuition bill and a second letter with a list of all the loans I qualify for, all I had to do was go online, click a button and accept the tens of thousands of dollars in loans with the promise I could attend classes.
You didn’t
@@NotShowingOff There not regulated because the government subsidies them.
America: You have to be 21 and over to buy a can of beer
Also America: You can be a minor and enter this binding contract that leaves you hundreds of thousands in debt
Thats the thing I'm trying to teach others who ask for advice for college. In general its pretty dumb that students under 21 can enter such horrible contracts because of school. Most of the time people at 18 have no clue with what to do with their lives and companies take advantage of that. School is expensive and not knowing how to manage your options is bad in the long run.
Also America: 11 years old is allowed to change their gender BECAUSE it's their own body
Hey, nobody forced them to sign the dotted line. The students CHOSE it.
@@bryanlim9817 yes, they chose. I'm not sure if you understand what it means to be ignorant. Young people are ignorant, especially when it comes to finances. Predatory loans know this, that's why they sway your mind with various propaganda, and succeed.
Ruining your finances as a young person, will likely only ruin your own life. Someone is not only capable ruining, but even ENDing, tens of lives due to being under the influence of Alcohol.
Go to community college then transfer to a state university. You don't need to pay $60k a year for a different school name on the same piece of paper.
As someone who did this... still facing debt. Less debt, but still facing debt.
@@joniquestarz Less debt is always better.
In my states it's really affordable to do so thankfully. Working part time (with FAFSA money too) you'll be able to cover all of that debt free. It's roughly $11K a year for in state universities which I don't think is too bad.
2 years at my school was 80k and I have to stay an extra sem cuz not everything transferred.
I tried to do that but due to my career, only 3 classes would have transferred.
College have failed America’s youth. It’s a fact.
Lol not really, its your choice what degree you want to pursue, you should also be aware of the what your going to make. If you don’t have the capabilities then it is not the US College Education’s problem. You get paid in proportion to the value of your work.
Tristian Xu you’re right but what a boring life, go to college and keep working til you’re bald ? Try out investing and do what you want with your time and money
@@jonathangonzalez3827 Your just supplementing your job by putting your money to work. I never said that you wouldn't be doing that, in fact I feel everyone should be educated on investing long term for themselves, this aspect of investing is also part of learning financial freedom
That sounds more like an opinion. I have done fairly well thanks to my college education.
Not really. It's about the choice you make that will affect your future. You reap what you sow.
Fun Fact! You don't need to go to an expensive school.
Haha riiight that’s what I was thinking
Thank you, nobody in the commends is saying this! You can graduate without debt if you go to community college and transfer to a cheaper university while working.
Another fun fact! If you are broke, even a cheap school(Yes, even with grants) can can be expensive. Check the median wages of 18-24 or so and you see why. A $5 footlong is expensive to someone with no income. Scale that up.
Meh but some employers prefer specific schools. So I guess this thinking perpetuates the idea if I don’t go to “x expensive school” . I won’t be able to get “x” high paying job.
I remember I was making less than 20K a year with 70% of my income spent on living expenses alone. The govt still expected me to cover at least half my tuition at my public state school. Long story short, cheap schools doesn’t support the low income the way you think they would.
The glamour of college is slowly starting to fade which is great news.
Yeah it is Everyone’s talking about it and I’m so glad I just recently decided to drop out and pursue real estate I’ve never been happier No loans! 🙌
@@tracy_ragland wouldn't you have loans if you started?
I feel like with social media, college has gotten even more glamorous.
@Dirk Diggler or is a troll
Dirk Diggler there’s nothing wrong with parents paying for college...
Dorming can be 14-20K per year based on the people I know going to college now. So a lot of the debt isn't the education but the housing.
And some universities require you be in the dorms for a certain amount of time.
@@mogotrevo Yeah thats the real disgusting part. Some universities require all freshmen to live on campus.
The require you to be on campus for at least until your sophomore year
Yes! Cost of living is what gets you. And most colleges make you live on campus ur freshman year and because of that they also make you buy a meal plan That alone at my school is like 15K
Anything over 5k to live in a dorm is a scam
I graduated with a Bachelor's degree debt-free from Cal State Fullerton December 2019. I convinced myself that I would not further my education if I would have to accept student loans. Because of my mindset, I earned 11 scholarships and reached my target.
Good job!! Fullerton is a great school
himynameiscyn Thank you! I agree 💯
Good for you! You should be so proud of that! I’m doing the same 🖤
Go Titans!
You are a beast
I highly recommend working for two years after high school. It gives you a handle on finances, where you want to be, and what the real world is like. It's not good that kids are thrown into school with the pressure of making a career choice without even dipping their toes into anything.
I used to work a few part time jobs in high school plus university and here are some of my personal advices that you probably wouldn't know without signing up for a job. Speaking from what I experienced, I definitely 100% agree with that. As a matter of fact, there's no better way to understand something than to actually be part of it and do it. You're gonna have that epiphany as to how the society works, what the reality actually looks like (as opposed to how it used to look like from your angle which you aren't sure if it's really that way) and what you should do (or prevent) to work your way up to your desired life goal. You'll have to know these so better know it earlier in life. To be more specific, let's say your personality isn't that favorable for working together with people (say you are being too self-centered, over-confident, too straight forward or just don't know how important it is to take things seriously) and it sure is going to give you a hard time on your future job but you just didn't know that it's a problem needing change, until you started working around people and realize that it's crucial that you don't keep it. Luckily it's just your post highschool job and you wouldn't end up sleeping on the streets for not being able to afford rent if you really mess everything up and got laid off. But imagine you have never worked before and that problem follows you all the way to your first job after university. And this is just one of the reasons. I hope this can make sense to you and make your life easier and smoother. Seriously no one has ever told me about these before and I wish someone did. I had to do the work myself to really figure out how useful it is in my life and how much necessary change it has urged me to make to fit in with the society. I try to keep things short and concise without too much fancy elaborations so you wouldn't feel boring reading these.
Agree. A lot of parents won't accept that and at 18 you still need them.
Okay this video leave out a lot of facts to make it's argument. The first should be the obvious, why are people with advance degrees (masters Level) find it extremely difficult to find a job? This should be the number one question since college debt is easy to pay off with stable income. To answer this question we need to look at the job market to see the demand of Jobs in different markets. To say that a person with a master degree can't find a high paying job during my mom's education period is unheard of (around mid 90s). What change? The reason being that higher education is getting more saturated each day, so this devalue college education. The number of jobs did went up but there are too many people graduating each year to fill these position. This is the problem, making education more accessible is only going to make this problem worst. So if we look at the JOBS market, physical technical jobs (blue collar) are in a very high demand while high education (white collar) jobs are in low demand. Nothing about the position had change, it's just that too many people are going into education and are not willing to work blue collar jobs afterwards. I am a certified mechanic and I am getting job offers daily for these position paying in the 6 figures. Can you imagine being a car mechanic pays more than some doctoral degree position in today's market? I really do want us to rethink the value of education, it's not the end all be all to have a good income. I think most young kids coming out of high school should go into the work market for a couple years first, save up some money, build up there resume and decide weather they really want to go to college.
Jobs should not require a college degree when the requirements obviously don't need one, at least that's how it should be
Many do require college degrees though
Bobo many could be done without one
@@XxhimynameiscynxX u sound like one of those kids, probably didnt even pass 1st grade english with that grammer
Jose Aguirre many don't need one... and many do need one too. Even if the degree isn’t required for the job function, it should at least be a positive attribute to a candidate
What about the engineers, the doctors, the nurses, the physcologists, the lawyers, etc etc. They still dont need a degree? I certainly wouldn't trust my doctor if i know he didnt have to study 7 years to obtain that degree.
$1.6 trillion dollars? I learn more on CZcams for free than from my university classes! Crazy! 👀
Do you write “CZcams” under your education on the job resume?
My university classes would sometimes just refer to CZcams channels 👀
You know it’s a scam when you rewatch the lecture topic on MIT/Stanford/Harvard open courseware because the professor explains it better.
Try learning theoretical physics on CZcams then
IKR!!!
@@JackyPizza123 nice logic there. Cherry picking scenarios to fit your narrative. First of all depending on her academic pursuit she may be correct. You can virtually learn most topics at a bachelor level on CZcams and this goes up to higher end math class and physics. CZcams algorithm also promotes the best teachers, therefore the quality of the teacher on the topic is going to be around the top 10% echelon of teacher on the subject. I wouldn't say CZcams is the only source to fulfill any curriculum but the internet as a whole could teach anyone in the us on most topics better than any one professor isolated at a particular college.
The other issue is that it’s hard to get a job after college. Ridiculous requirements to get started out in your career, even with an internship sometimes it’s not enough experience. That combined with debt is just gonna hurt the overall economy.
Broken system.
I agree but the only way to reduce the cost of college is to reduce or eliminate students loans altogether, if less people can afford to go the value of the degree will become valuable again.
@@shantricejones5830 If well-paying jobs are dependent on the credentialization that college offers, and you reduce the amount of people able to get a college degree, you are effectively scrapping the idea that mass education is useful for a society. This is the dumbest and most historically illiterate education policy you could possibly have. It is almost worse than nothing at all, because at least then the playing field would be comparatively level.
@matthewcaldwell8100 unfortunately it's true regardless of how terrible you think it is. Value is created by how rare something is not everyone having it. FYI, I'm currently paying out of pocket for my MBA and my company is reimbursing me. So it's possible.
@@shantricejones5830 Education is not just a commodity like any other. It is infrastructural, a necessary component of what constitutes a dynamic and open society. Roads do not cease to be important because there are many of them. Neither are educated people. You are in fact giving the perfect reason why college education should not be left up to private interests, because they will inevitably use it as a tool for the extraction of economic value and nothing more.
@matthewcaldwell8100 no people just need a specialization or trade. Plummers and Electrians make more than many people with degrees. Education is not limited to a degree, basic grade school is free and required, yet many students still refuse to pay attention. Ending student loans does not say there is no more education, it says find a new means of paying for school. Most people don't even want to pay back the money they borrowed, so I'm not seeing your point at all.
Dave Ramsey entering the chat room. Lol
Lol
Dave Ramsey grew up in an entirely different economy. Us Gen Z and millennials both have economic recessions, stagnant wages to deal with, and Automation is just the Icing on cake. Dave Ramsey gives good advice, but when it comes to college it’s essentially unrealistic and useless.
@@lefthanded5473 how is going to community College then transferring to an in state school unrealistic. Or military service or right a 1000 essays for scholarships. Or choosing a real degree that's worth the money ie engineering. In NJ that plan would be 30k in debt which is $300/month payment. Also if you work while in school you owe even less. Ppl that work often have better grades bc they aren't flaking off partying
@@lefthanded5473 Please be specific on his college advice that you disagree with.
triad6425 Community College is only ideal for those who live close to the campus, live in a stable home environment and have a car to commute to and from campus. Not every student has that option. And I’ve heard plenty of horror stories from the military and based on that. I think I’d much rather deal with debt than the lifelong trauma and mental illness. As far as scholarships go, yes you can write essays to “enter to win” but it’s not garunteed that you’ll win a penny. Even if you write pages and pages of Shakespeare level literature and submit that essay to 100’s of scholarship contests. Even that is impossible as almost all scholarships have a specific criteria and topic for the essay or task that they want you to complete. And if you do manage to win, majority of the payouts range from $500-$2000. That barely scratches the surface of the fees most universities charge to students. If you want a scholarship that pays big ($10,000+ or more) you have to be an extraordinary, top 1% of your class type of student or extremely lucky. A sad reality is it’s usually the students who attend wealthy schools with access to the most academic resources and then some that obtain these scholarships. But I do agree with you that working part time during college, and choosing a degree in a field that has decent average salaries and immense job growth does play a major role in mitigating interest owed on the loan, and the ability to pay off the loan as quick as possible.
“They’re super creative people but they’re choosing STEM fields”
Yeah because you *can* be creative in STEM fields, and you have more versatility and ability to leave them. There’s a reason so many top students go into engineering and why a STEM is so much harder than a humanities degree..
iTalkData Yeah, I think giving people more options and teaching them transferable analytical thinking skills is one of the main benefits. It’s why so many engineers successfully transfer into business and art. Like- the most common major among F500 CEOs is engineering, there’s a reason for that. There’s also the component of being able to support yourself in art, art is a lifelong endeavor that won’t always make you money. Many of the greatest artists did not get a classical art education.
Ryan Howe It’s person to person, but math is completely doable. HOWEVER, math skills are way more transferable than say, the lack of skills you get from a psychology degree.
As someone who's been a student of both philology and engineering, that's not true at all. If you can be creative in a stem field it's because you are passionate about it. And someone who went into stem by force will not be passionate about it. Plus being creative in one field will not ensure you are creative in another
I think we could do with some politicians with a background in Humanities, IMO
@@Sarah_H That’s what we currently have.
There should be a cap on student loans or college tuition. This problem is only in America 😞
The problem with that is what happens when someone is $60,000 in debt, hits the loan cap and still has one semester left to graduate. They can't graduate because they don't have the money to finish school and can't take anymore loans. But they also can't pay off the loans because they can't get a high paying job using their degree because they didn't graduate yet.
Ashley cap the tutions in some other countries public school fees are capped at a certain range
@@rc9719 I am not sure how higher education works in other countries, but that might be a problem here since we have both public and private schools and many people switch schools multiple times.
There are actually caps. I hit mine my last semester and owed $6000
Or just stop going to super expensive universities? Stop giving them your money that's why they are so expensive cause the demand is so high they can charge whatever. Then government backing those loans isn't helping either. Go for community college and state school if you can't afford it. And be the best student you can be. Being smart about money pays off a lot more than a fancy degree from whatever University
1.6T and students are still encourage to go to college and apply for loans to pay for it
That too apply for loans for useless degrees. Colleges make the most profit from liberal arts and humanities coz they’re are relatively useless in the job space, cost the least to run( professors are paid the least) but able to scale coz it’s not as challenging as stem so many student can get accepted so multiply those profits. It’s low overhead high return. Why wouldn’t a college try to sell an overpriced music degree. ESP when the govt guarantees the loan. Free money.
@@ugotserved911 exactly... And employer are at fault too because lot of them will not even let you sit for the interview with a 4 year degree that is not related to the job you are interviewing for.... It's a big scam
@@ugotserved911 espcially if the government acts as gurantor.... that is what is driving huge price increases. they jnow they will get paid.
When woman's studies is a 100k degree. But you can only make 30k a year from it maybe it's not the right choice.
I agree, and of course, it's not limited to woman's studies but many degrees. Many humanities and liberal arts degrees lack job security. Of course, many colleges and governments are partially to blame but a lot of this comes down to individual choice, their majors, the college they choose, their decisions regarding college credit classes in high school, etc... I don't think its fair that people like Engineering students who are more likely to be able to pay their debts would not get the same treatment as people who studied less useful things in college under these proposed policies.
@@palmtree6794 wait a second. You think that people who get a more useful, more difficult degree should have to pay MORE than people who essentially spend 4 years getting a luxury degree that adds zero value? So if I go to school and do the HARDER thing that will positively impact more people, you think I should pay more for it? Jesus christ that's stupid.
@@AD-wm9if Let me clarify, it would be unfair that someone in a useless degree as woman's studies should get their debt paid by the government when an Engineer that chose to study something useful and pay it off themselves get no government help because they made a better decision. This is what I was referring to when I was talking about equal treatment. If a gender studies student gets 100k worth of tuition forgiven, students that already paid their debts should also get 100k from the government
I had same thinking at first when I was about paying off mine, but it all changed when I had guide from Clinton_tech05 on !G who help me all through some paperwork and documents that made my credit score very stable and better after paying off my debt. Check him out he's a genius.
Okay this video leave out a lot of facts to make it's argument. The first should be the obvious, why are people with advance degrees (masters Level) find it extremely difficult to find a job? This should be the number one question since college debt is easy to pay off with stable income. To answer this question we need to look at the job market to see the demand of Jobs in different markets. To say that a person with a master degree can't find a high paying job during my mom's education period is unheard of (around mid 90s). What change? The reason being that higher education is getting more saturated each day, so this devalue college education. The number of jobs did went up but there are too many people graduating each year to fill these position. This is the problem, making education more accessible is only going to make this problem worst. So if we look at the JOBS market, physical technical jobs (blue collar) are in a very high demand while high education (white collar) jobs are in low demand. Nothing about the position had change, it's just that too many people are going into education and are not willing to work blue collar jobs afterwards. I am a certified mechanic and I am getting job offers daily for these position paying in the 6 figures. Can you imagine being a car mechanic pays more than some doctoral degree position in today's market? I really do want us to rethink the value of education, it's not the end all be all to have a good income. I think most young kids coming out of high school should go into the work market for a couple years first, save up some money, build up there resume and decide weather they really want to go to college.
Upcoming college kids:
Stop going to expensive unis just because you wanna have that college experience. Community college imo is perfectly fine. The professors in community college are just as great, it's just that facilities like library are less great than unis.
@iTalkData take if from another artist .... if you already have a AS degree, you dont need to get another one to become a UX designer... you can literary learn everything you need to know about UX design from amazon books and Online training videos .. you dont need to go back to school ... your portfolio will get you the job not your degree trust me ... the degree only matters if you're trying to become a manager or director ... but a designer no
A community college is not the same as Harvard. The better your school, the more money you will earn later on in life. A lot of my family members went to Ivies, got scholarships, and are living great lives.
@@lexismith8206 Went to community college and living a great life as well 🤷🏽
@@lexismith8206 not true for most fields. Its all snob appeal. A STEM degree from a state school is just as valuable as an Ivy league one. Exceptions are Law and finance.
I can attest that community college is not the better or same as 4 year universities. Maybe for basics, but that's not the fundamental reason that people go to them
PRICE GOUGING INTEREST RATES: Federal government is charging me 7.5-8% interest on my medical school loans.
That’s a lot 👀😬 but thanks for taking them on and becoming a doctor We need those lol
Did you agree to these loans beforehand? You should have never agreed to them, it's not price gouging if you made the mistake. Make sure to read the fineprint before committing to a life-long decision.
That’s crazy. I’m European and my student loan interest is 0.35% 😅
John Dirac the problem for some is these loan agencies are targeting high schoolers especially in low income areas like mine highschools don’t teach anything about loans or just money in general
get the fed out of the student loan business.
I am using my unemployment checks to repay my student loans!
The Guy In the Back smart!!!
@@anarose623 whats smart would be not signing that loan to begin with
Fredrik B yea I should have gone to community college first but I didn’t know. I was the first person in my family to go to college.
King what’s your occupation?
King what’s your occupation?👀
Too many people are going to college to study things that don’t provide them with skills relevant in the marketplace.
🌟 The Investor Center - Learn Investing Facts only some career paths are worth going to college for, AKA engineering
Do you really think that's the problem? There are not enough jobs in high demand marketplace to place everyone.
I understand why you think that, but aren't artists, liberal arts graduates, and philosophers also valuable to our world? Shouldn't we have a nation that is able to have creatives and STEM citizens? Why must we choose one?
Peter Cheng there are tens of thousands of jobs in STEM that go unfilled. The point I’m trying to make is instead of going into crippling debt for a meaningless degree, just don’t go to college. Develop a skill that is valuable in the marketplace and you will be able to provide for yourself and your family. Especially without having the huge student debt.
Emily DeVries those things are important. But there are ways to develop those creative skills without going into six figures of student debt.
I did the community college route then transferred to a 4 year college to finish my degree. I have 30k student loans but hopefully I will have it paid off in 2 years.
If you've got a good paying job (50-60k), you'll be fine. I got out of grad school with 60k in debt (making about the same). I got a second PT job and paid it off within 2 years. People who talk about the "crippling amount of debt" typically don't know how interest works. Good luck Romeo
30k even with going to a CC? Dang man college cost an arm and leg nowadays
bang bang niner gang that’s the reality
i did the same but have no debt cause I'm smart? like Trump.
I did the same thing with no loans. Took me longer. Pay that 30k as soon as possible or that interest will grow and as soon as you know it, it'll be 70,000. It has happened to many.
That one girl that was pitying college students for "going into STEM" is hilarious. Of course you must pick a high paying job if you get an expensive education with loans. If you want to be an artist and get paid less (which isn't always the case) then do not take out a huge loan!
Also wealth isn't built through home ownership. It is built through investing. If anything, the less you pay on your home the better.
Even State schools are expensive... You are looking at 8k per semester for state school. I believe going to community college HELPS but its not going to make school so much
affordable.
Only a tiny fraction of what you learn in college will be applicable in a job
Depends on your degree
My friends say that as well! I have a friend that got a marketing degree and now works with Amazon making great money but she said her degree didn’t teach her anything but the degree is probably what got her the job so 🤷♀️
Yet most jobs i’ve seen on Indeed & LinkedIn now require atleast a masters degree lol. Bachelors isnt enough anymore. You need more & on top of that, experience. But what Tracy above said is right. The degree is basically the minimum requirement .
Depends on degree. I interviewed for a job in mechanical engineering and the interviewer laughed and said "we know you don't know anything" we are looking for the quick learning that you get in engineering. That's when I didn't get the job lol
Healthcare professionals and engineering degrees are where it’s at.
you have no limit on education with those degrees. You need to Constantly be improving your knowledge and that is KEY .
Major in engineering, STEM, Accounting, or computer science then you will earn a good salary and be able to pay off the loan.
Not everyone wants to do that
@@jalenclark7186 Then its not the tax payer's problem to foot the bill for random people who choose useless majors.
@@naveygill1793 Keeping in mind too that you shouldn't have little to no debt if you go to a public, in-state school and do well enough in school to get at least some merit-based financial aid. FAFSA may be able to help too depending on your family's income
@@connor6564 Yeah, the major problem with my generation today is that we like to blame the root of all of our problems on someone else and refuse to take responsibility. That gives rise to a victim hood mentality and once an individual possesses that it is really hard to improve your life from there on. No one forces a student to choose a low paying major, you have a choice to make. If you choose humanities and go out of state for college, then how is it the system's fault if you are neck deep in debt? Not saying everyone's situation is like mine but I have managed to graduate college with 0 debt. It's actually very possible to do.
Navey Gill if we funnel all our kids into analytical STEM careers, who’s left to do the rest of the critical jobs that run society?
The government should just do away with student loans. go to work, earn money, and then pay for school. Stop complaining for using borrowed money and then complain and pout like a child because you don't know what interest is. grow up.
There needs to be an audit of every college in America. A lot of them are charging way too much than they deliver. That’s the root of the problem.
Step 1: Don’t major in a useless degree like gender studies
All of my peers have relevant work even during Covid lockdowns. I work for USCIS under immigration services so I’m important but also controversial to some. My aunt is still paying back her student loans with her engineering degree. Made less than 30k coming out of college and now ~40k. She graduated in 2018. I know other stem students like her that still have loans to pay off.
Worste decision of my life and biggest waste of money. I hope people take this seriously and learn from this. Dont make the mistake of going to college.
No certain ideal careers require degrees. You can't get around that. It's as simple as going go a community college for your associates and transfer to a cheap state college.
Red Dirt Renegade College isn’t a mistake unless your foolish in what your majored in and how you spent your time there.
@iTalkData Hello! I am a current high schooler, I would like to apply to a community college in the UK but I live in Canada. Would I still be accepted as an international student?
Why are students not asking the question why are college presidents paid so much? Why are college coaches paid so much? Why should they pay an athletic fee? Parking fee? I can understand 100k per year but not a million. Please bring attention to this.
Coaches are an easy one, they directly translate to dollars to the Uni. If your coaches win bowl games = HUGE TV contracts, shoe deals, donations, tickets, etc. They should in theory pay for themselves.
The parking fee is to pay for the garages and to limit number of cars on campus. I'm not sure about everyone's experience, but my uni had a huge shortage of parking. Athletic fee i'm assuming it to help pay for the gym/fields you have free access to. You may not use it, but its part of the product you've purchased.
As for the president, their salaries are voted by the board, who i guess figure's that is what they are worth. If no one thought they were worth that coin, then they wouldn't be hired.
The real issue is societies' ideal that everyone needs to go to college, gov guaranteed loans, and students not taking responsibility for researching the ROI on their decisions.
I will say I regret taken student loans to pay for a college degree that did nothing for me. I literally graduated from college during the recession I was unaware there was a recession until I realized there weren't that many jobs available. Minimum wage at that time was $5.15 an hour and I had to get a job on minimum wage that wouldn't even allow me to pay for the apartment that I had. I was doing 80 plus hours a week. A-frame was supposed to move down with me and be my roommate but when the day came for me to pick her up from the airport she never showed up. Then I ended up in a car accident that left me in a lot of pain and I ended up losing my job because according to management my doctor's note wasn't detailed enough to explain why I couldn't lift a 75 pound handicap ramp. So literally about a year-and-a-half being out of college I was jobless, had lost my car and now homeless and there weren't any jobs available. As a matter of fact it took me two-and-a-half years before I was hired. I did everything I could to have some kind of roof over my head. For the first 3 months of my homelessness I was at the Salvation Army I will go out looking for a job during the day and come back and work in their food pantry in order to pay for another night in the shelter. But I couldn't stay so I eventually ended up getting kicked out and I found program that is usually for people with drug issues wish I had none of. I found it through my mom who was in a state halfway across the country also going through homelessness because after 26 years in the military the VA was denying her the rights to her funds. Which by the way are you before you get her money but I digress. I was throwing up the day that I was kicked out of Salvation Army so I ended up in the emergency room at the hospital my mother spoke with the people at that program for addicts. The lady in charge of the program told her that there's no way your daughter could be homeless and I have some kind of drug problem but my mom was insistent and so she agreed to meet with me the following day. That night I spent it inside a friend's car who was also homeless but staying at the Salvation Army. Next morning she drives me and to meet the lady at still standing and after just five minutes with me she says this very statement that I have been hearing a lot over the last 3 months. " you shouldn't be here." I like the way to her as I know that but nobody's hiring me. So she said she would give me some time she admitted me into one of her houses and then she directed my job search and I would go and apply to the job she gave me we did that for a month before she decided I maybe just lack experience and she decides to keep me on our staff as an office manager for the next 18 months and gave me a $20 a week stipend. but they started having Financial issues because they didn't have that much money coming in so I decided to attempt to go back to school because in the state of Florida if your indigent then you can go to school for free. So they found a shelter to take me in, in another city, where the school was located I was able to take the class you were there but I really decided that I wanted to try and get my masters and kept missing the desired score literally by between one and three points. So obviously my my self-esteem was low and things just continue to be a struggle. On top of that I ended up with duties at the other shelter which started to interfere with me taking classes. So I ended up in a catch-22. I was at the new shelter for a little over half a year before I finally found a job at that time it was paying $10 an hour. I finally got kicked out at that shelter and ended up in a hotel that took my first paycheck to pay for. Then after a couple of months I was able to find a roommate on Craigslist to move in with. so yeah my two and a half years of homelessness passed like that. At no point was my degree helpful. There was even at one point where I was being told by jobs that my degree was more than what they were looking for and for others less than what they were looking for. so honestly I feel like the degree was a waste. I work two jobs while going to college and paid half my tuition cost working those two jobs the rest were student loans but somehow my student loans have become more than double the amount that I paid.
That was all your fault.
I completely agree and relate to everything you mentioned. We were also told that we "needed" an education to have a good career. Unfortunately, so many things have changed after the pandemic. Fewer hours, and less pay.
Instead of blaming who is responsible... let’s make changes in cutting interest on fed loans, 15-20k loan reductions, and reduce cost of college.
That is the problem, if we got rid of govt backed loans we wouldn't be running into this big of a problem
The interest rate for undergrad loans for the 2020-2021 school year is 2.75%. That's already a below market, incredibly fair, interest rate. Someone with no job, no income, no assets, no credit, and no history is borrowing money at a rate that's typically only available to people with good jobs, good income, assets, and extensive history. It's already a generous rate.
Don’t blame the gov’t because the loans are already stupid generous. The colleges have ballooned their expenditures and its on them to freeze tuition
BTrain5489 not really it’s 6-7%. I haven’t seen many student loans in the 2s.
@@JJJosh949 Umm yes really. It's 2.75%. Down from 4.53%. If you are seeing loans that are 6-7% they are either for graduate students, independent students, parents, or private loans.
I knew student debt was going to be something that would hold me back. Instead of going away to college or attending a college I couldn’t afford. I attend a state school, work part-time, and don’t have any student loans. I look forward to graduating in May! My major is in Interaction Design (which is in demand 😄)
So good! Student loans is the highest form of sub prime lending
This is the point I always make. Student loans are predatory, why should an 18-year-old with no job, assets, no credit history, no income qualify for tens of thousands of dollars in loans?!?
"How much college debt do you have" should be a third date question. Trust me.
this
120k for ID no job didnt even need when looking for job
@@devilsadvocate7059 i mean, do you want to spend time with someone who has a dealbreaker red flag with them?
I do still think he was half joking though
I’m a junior in school and I’ve paid for everything myself. Zero debt! Out of highschool I became a cell tower tech and was able to invest in high dividend stocks and save a lot of money. I’m not only paying for college, I’m flourishing
Just go to a trade school and make more than 50% of college graduates 💀
Exactly!
chriswasherez Only more than the idiots who go for useless degrees. Y’all still won’t make more than the good degrees lol, and you’re doing strenuous labor
@@Cris-td4wi true but really does depend on the area
It’s not all about the money, it’s about the occupation.
Keeps you in shape lol 💪🏼 obviously some guys can’t hack it.👧
This video fails to mention the effects of government backed loans on the price of universities. Once the gov started offering these loans, the cost of college skyrocketed.
This is so true. I found it so ironic that they never talk about the REAL reason for this crisis. It's literally because the government allowed students to take out loans....
Stop the government from giving out loans! That will bring down the cost. Most people don't need a college degree for their job and there an endless number of people who aquired a degree that is not relevant to their current job.
at this point you are just paying 150k for nothing...
Glad I was able to pay off my student loans. My friends talked about going back to get Masters or more but I don't plan to ever go back to get higher education because of the loans; it's not worth it to me.
How did you manage to pay it?
@@zxera9702 probably investment or working
Just go to community college and avoid debt instead of trying to dorm and party
You won’t get a good job for example if a company receives two applicants one from ivy and one from community college they’ll obviously 100% choose ivy
Eymen Mohammed that’s not true buddy. :) it’s about the skill set you learn from college not the name of the school you went too.
@@eymenmohammed2572 He's saying that you should go to community college for two years before transferring to a university.
The reality is the connections you make in college are more important than just pure GPA in a long term career. If you go to a prestigious university you put yourself around the right people. If you want to be slightly above average in your field sure. The problem is universities have a lot of programs they need to get rid of like athletics students at most schools pay for the athletic programs to exist title 9 made it worst.
As someone who did this... still facing debt. Less debt, but still facing debt.
Take away federally backed student loans and watch how fast colleges lower their prices.
I am a low income, I was able to graduate with a bachelor's in only 3 years from a public university (UC San Diego). However, I didn't pay that much because I had the FAFSA covering majority of my tuition for the most part. However, now I'm stuck with $ 36,000 in debt from the same college as I returned for masters degree. I have a part time job and the struggle is real. 😫.
It’s not the cuts to education that caused the booming of college costs, but the ease of borrowing that government caused. This is a ridiculously misleading and false video.
It’s ridiculous that jobs that pay less than $20/hr require a college degree. People are paying $100K for a degree to get a job that pays $42K/year. if a job doesn’t pay enough to make what you paid for your college within a year or two, it’s not worth it. The problem is that everyone and their mom has a degree now, they’ve lost so much of their value.
Many students make the mistake of taking the full loan amount each semester not thinking of the end result. They don’t understand many loans begin to accrue interest while you’re in school. Also, the date to start repayment seems so far in the future. However, it’s just as the phrase on a rear view mirror.
“Closer than it may appear”
I think if someone is pursuing a major that has a median salary of under $35,000 a year, you should be unable to take out a student loan
Media salary?
College has been worthless for me. I graduated with a finance degree which was supposed to be a good degree choice but still had trouble finding a job. I don’t work in the finance industry and don’t use my degree at all.
Really? I was going back for accounting..
Did you do an internship?
I did hear that certain areas of finance are oversaturated.
Derrick Lyons no internship, I’m finishing my sophomore year( prerequisites)
Your story is very typical. Vast majority don't work in the field they got their degree in, and yes even finance. The undergrad major that people tend to actual use are : accounting, Nursing, computer science, some engineering and maybe education (but most people change their mind later).
Tuition costs staying sane despite classes going online
Stop subsidizing student loans and subsidize the school directly. Schools know that students (with no credit history) can take out unlimited student loans so why not charge unlimited tuition?
Tuition costs are extraordinarily high! Universities in the USA literally just raise tuition for now every freaking year! We need a limit on how much they can raise it. For what reason? Just to overpay the Deans’s salaries (some deans and president make over 300,000$) ? The administrators who are just glorified secretaries? The football coaches? (True story: the football coach at my university made 400,000$!!!!) while I am a part time physics professor with 1 BS and 2 MS degrees with no benefits, no job security, no raises , can be let go anytime and getting paid $1400 per month (before taxes btw!!!)
Why pay all these people so much? And eventually all this is part of the Tuition students have to pay. Every time some college admin gets a raise , students have to pay the bill through higher tuition and that means they need to take out more loans.
My first semester at CSUS I paid 1900$ , 2nd semester they raised it to 3400$!!! I obviously had to take out loans since I couldn’t afford to pay this hike in tuition price…for what reason this increase just in one semester? College is becoming only affordable for the rich …sad
Why is a college education so expensive in the US? I'm not even referring to an ivy league school, like a normal university you can end paying for so many years into adulthood, shame.
It is probably because student debt becomes federal debt, meaning that the US government does not subsidize the education itself (such as is done in Europe) but instead they subsidize the private debt. So imagine universities being a bank giving out loans, but instead of the university itself carrying the risk if the student defaults, that debt gets bought up by the taxpayer. So now it doesn't matter for the institution anymore if the students can't pay back their debt, it gets paid for. Then the student and the taxpayer are left on the costs if they default. In Europe instead the education itself gets subsidized, meaning everyone pays a bit more in taxes to pay for it, but the cost is kept lower because there is no incentive anymore in inflating prices, it actually is in their interest to keep expenditure low.
GET RID OF GOVT BACKED STUDENT LOANS.
Finally someone said it!
They were a good thing because the Government has lower interest rates than private school loans. Obama started doing it after the great recession. Without them the US probably would have never recovered.
Problem is places need to hire people with degrees instead of people being recommended!
Most kids actually can't afford or even have grades to get into college but schools push them to but schools don't teach courses that prepare kids for college.
For those kids who aren't exactly college material (I don't like that catch phrase) here is my advice: Take a gap year. Pick up a full time job with benefits. Plenty of options in the current market. Bank all your money and make a decision after one year. Bet this 19 year old has a different perspective on college and may be well ready for it. I wasn't ready for college either at 18. I began when I was almost 21. And you bet I was serious as h3ll
@@mathisnotforthefaintofheart
Good advice
In Florida, you need a 1430 SAT, 100 hours of Community Service, and a 3.6 GPA for the Bright Futures scholarship, all ethicnities are welcomed, and all economic field. They pay 100% of tuition, but not room and board. Guess I'm lucky.
Went from attending one of the most expensive private colleges in the country, to my state of residence's main public university, and it's still $15k per year to attend, not including room and board. And for what I want to do/what I'm passionate about (nursing), you NEED a bachelor's to work at the bigger, better hospitals with higher pay. It's not like I have a choice to not attend 4-year college, because otherwise my job prospects would be extremely limited.
It's interesting to me how information colleges teach is more widely available now than ever, and yet the costs of education are getting worse and worse. I've learned more watching youtube videos than talking to my professors who really would rather go home than explain how integrals work.
Documentaries like this always say that states cut back on funding for higher ed. Well the reason they did that is because most states are broke with unfunded pension liabilities. Calif. has around $500 billion in unfunded pensions owed to teachers, firemen, and other workers and that's why it's not funding higher ed. like it used to--and the higher ed. cuts are not going to stop.
I remember as a child in school learning about the practice of indentured servitude, which was when people would willing choose to put themselves into temporary slavery for the prospect of a better future, usually a term of 7 years.
I remember being horrified that anyone would choose this.
I had obviously forgotten this horror, when in my 20's I signed up for student loans.
20+ years later I still have a massive amount of debt at 8%, after paying dearly for many years. What I've learned: Avoid debt at all cost!
I didn't get an education from my universities, as much as from the school of hard knocks. We can do better.
"So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets." Matthew 7:12
Get a loan then travel to a country with free college and enroll. The bonus is universal healthcare, easy transport, learned a new language and some have free food. If you can't do that then community college is there.
Take out the debt, you pay it back. I worked during college and saw friends take out loans to buy a car. No way should they get that car for free by having loans waived. Tuition should be cheaper, if you need a loan, you pay it back.
u have weird friends lol ... a car???
That’s the stupidest thing They bought a car? Then yes they deserve the loan
I worked all through college. sometimes 2 jobs but I did take out loans. I had to pay my own way through life, paying rent even while I was in highschool. I did misuse the loans as I kept the overage checks to help but books etc while I still worked full time. However, I never thought things would happen as they did putting me in a position unable to pay back my significant amount. I went to a community college.
It seems you’re against others getting help in which I never in understood I don’t care if you paid yours off and others did to. This debt will continue to go past 5 trillion and than we’ll see how America struggles more because that’s truly what I’m hearing from you guys. I believe in helping others even if you can help yourself I’m human like that. It’s not you’re money their paying off so why care worry about your own problems stay in your lane of life and be upset others are getting help
Felix Cepeda not against helping others at all. I believe tuition should be capped and interest rates should be decreased significantly. However, when you have friends buying alcohol and new vehicles and mock the government because “they will pay off this car for me” and keep living a life above their means assuming their debt will be waived just bothers me. I appreciate your insight though and I understand where you are coming from!
I have paid back my $65k of student loan debt. It was such a big relief to be rid of it. College is definitely too expensive. It's even more expensive now than when I was in college. I think the main issue is that college is too expensive. College tuition goes up too much every year.
The govt declared a war on poverty, and poverty won.
Community college life 💯
Yeeesss siiirr!!
It’s gotten to the point where many HS seniors know about the student debt crisis. Getting a Higher education is obviously a broken system in the US. So it’s really your responsibility if you’re graduating college with a mass amount of debt.
That was exactly what happened when I became a HS senior. I learned about the student debt crisis and decided to attend community college and pay my way through instead of taking loans. Working out so far
Same here! I got my first two years free so that helped a lot. I’m saving all my financial aid and working full time. Also full time student. It’s really hard but I’m managing well, it’s not impossible to do you just need to have that mindset which a lot of students might not have or lack the drive/motivation to do it. Good luck to you!
@@hollowfragment237 I worked full time and went to school. It’s really hard and you don’t get that college experience(dorms, clubs/sorority, parties,etc.) but I have my bachelors and no debt. And I have ample work experience to go with it. Sometime the best thing for you isn’t the easiest but I’m so glad I did it this way and debt free and enjoying the fruits of my labor
8:40 is on point. The entire system should be held accountable for the smoke and mirrors.
I'm really sorry for American students. Even more sorry for people who migrated to the US for a higher education. People getting reeled in with the old "American Dream" promise.
It’s funny how the woman being interviewed is blaming everyone else other than the students who took out stupid amounts of debt. Fact is most university kids age 20 and under don’t want to work 30+hours a week through college. There are also affordable community and state colleges available which are usually a fraction of the cost of universities.
BTW I think colleges are out of control and most of the material they teach is completely useless. 80% of the material doesn’t translate to on the job skills
It is easier to get job from top university
Sci sss that’s a myth
If you're seriously considering going to college, look hard for scholarships and do super good in high school, especially full tuition or full ride ones. That's one of the only ways you can go without the debt crippling you.
It’s not a tough question to answer, the answer is simple: the government. Take gov out of the equation and the price of college will drop DRAMATICALLY. The reason college is overpriced is because the gov is approving everyone for student aid and handing out loans left and right. If they stop doing this, colleges will have to lower prices to compete for students to attend school. Economics, people...study it!
Dave Ramsey & Anthony O'Neal gives great advice on a debt-free degree.
If we didn't have federally backed loans, institutions would be forced to lean themselves out, downsize the administration and focus on educating in order to become profitable or notable and be able to build a business. Instead, the admin of institutions is bloated, and students have to carry the debt burden
It’s all about personal sacrifice and looking for ways to minimizing debt as much as possible. I went to the college that gave me the best financial aid. Private college with $30k/yr tuition. I then applied and was able to get several scholarships. I stayed at home and commuted, which was hard at times. I also didn’t do study abroad, not because I didn’t want to, but because it was too expensive and didn’t want to get additional loans in order to do so. Graduated with 15k in loans and paid it off in 3 years. I didn’t take vacation and kept my expenses at a minimum in order to pay off my student loans. My college classmates who lived on campus and studied abroad are still paying off their 80k loans.
They're just taking advantage of young kids who can't make good decisions
true,
I'm on a mission to put an end to student debt. if you've been through this pain and care enough to stop others from going through it all; hit me up on twitter @mmawadhi or check out what we're doing slice4slice.com
Some kids*
Lots of people don’t go to college or do it smart. Don’t lump all of us in with those morons who just party all day.
Never before has there been so many people going to college. There’s to many people going to college thinking getting a college degree can get them a good job. But the truth is many are not ready for college, and think they are, many are geared towards a technical tract such as trade school, or specialty school more than an academic tract. Thus getting loans to attend college. These people going to college means taking remedial classes before even going into a major because they are not ready, which adds to their financial debt problem.
I don’t think these loans should be forgiven. If you borrow money pay it back.
7:54---they are choosing STEM fields??? OH THE HORROR, A DEGREE WITH ACTUAL VALUE!
I find assuming that STEM doesn't need creativity insulting
Pluss student loan makes starting a venture really difficult
If people decided to go to college during the '08 era, that was a choice. Just because the bill comes due doesn't mean I need to pay for it because someone else made that decision. I kept working in those years, s volatile as things were, and they decided to 'go back to school'. THe thing is, its still not legal to dine and ditch, just some bills are higher than others. Community college was always a great option that it seems many people overlooked, even then!
I don’t understand why the Interest rate can’t be capped at 1% so people can actually pay down the loans and not just interest. The biggest problems is rates and colleges not curbing their spending which in turn jacks up tuition. Ever notice how a college is always doing construction just to replace something that doesn’t need replacement
What I hate the most is the fact that 90% of what is taught in College can be learned on the internet for free.
Due to coronavirus out break (covid-19)my business was short down, I was down at a point whereby I can't afford 2 square meal a day. Thanks to a friend of mine who recommend me to Mrs quinn brayden, who helped me to earn money online through forex/binary options trading.
It was like a dream come true, I never knew online forex trading is really profitable until I got myself involved in it. $650,000 is more than enough for me to start establishing my business again.
what I'm earning in forex trading is more than what my business earn me in three years. Words alone can't even express the joy in me each time I received my profits from Mrs quinn. I guess it's true what they say "trying a new things is never a bad idea"
I will be sharing her contact info below for those who are interested in earning money from forex trading and also for those looking for how to earn extra income, forex is the best choice👇👇
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Student loan debt 2019 and before: its an investment
Student loans post 2020: ........... 😭😭😭😭😭
In high school and basically k-12 your taught to think that college is the only thing you should be achieving in life, and if you don’t go to college then you’ll go “nowhere in life” only go to college for useful degrees like stem, medicine/nursing and accounting. Or GO HOMEEEE!!!
18 year old walks into a bank:
-gets laughed out trying to open a business loan
-gets laughed out trying to get a loan on a house/rental property
-gets laughed out trying to get a loan for a car/business asset
-gets a blank check for ungodly amounts of student loans at a variable Interest rate without any leverage or planned ROI proof…Whether wanting to be a doctor or a professional finger painter
What are students to do? Students need to start thinking about college as an investment and work with a professional college planner who knows the true value of a specific college degree. We use realtors to buy houses and financial advisors to manage our wealth. So, why wouldn't we use a college planning professional to help make a decision that cost hundreds of thousands of dollars and will be the largest factor in your future income. If you need help planning for college we can help.
College is to big of a financial decision to leave up to 18 year old kids. Professional help is needed to make this size of an investment.
I kinda feel like that is what Guidance counselors are for.
@@King_Jab Guidance counselors are great but they are one person responsible for hundreds of students. They don't have the time to offer each student enough one on one time to properly prepare for college. Especially when it comes to the financials.
College Liftoff buddy they’re not an active manager for you, its YOUR responsibility to take care of your financial health. In my opinion you’re able to learn how to manage your finances on youtube there really is no need for a proffesional
Are your services free? Or are you simply exploiting the problem?
Come to Canada! My masters degree cost me 10k in tuition and my TA ships paid for the tuition and one semesters rent. Do you think more people should be encouraged to study trades or go to a community college over a 4 year degree?
My school wanted to charge me 12k to live on campus and another 7k for meals… i dont spend 700 dollars on month on food as an adult…(only 10 months out of the year)
“College grads earn 80% more than high school grads.” If they are so well off compared to the rest of us why are we being asked to subsidize their debt?!? Pay your bills instead of relying on people who make less than you to do it..
You take on the debt in hopes of getting a “good” job. Only to find out you either don’t have the experience required for the positions or the pay is lower then expected
Chasta Stokes That's the problem with college. You go to college and rack up tens or even hundreds of thousands of dollars in student loan debt and you're not guaranteed the job you desire upon graduation. You'd be lucky to get a job at Walmart nowadays. That's just sad. The bright side is you don't need a college degree to be an entrepreneur, and become rich over time. There are college dropouts out there that became millionaires or billionaires, some didn't even finish high school. I'm not against education by any means, but college is not the only answer nor is it for everyone.
Go into investment banking
A college degree got me into debt. My business got me out of debt. My investing made me rich. I did not need a college degree.
Hello! Can I use a small part of this video in a documentary talking about college ? Its going to be uploaded on CZcams in the future.
Giving loans in the 1st place for college it's what raised the price of college to begin with.